tZERO Security Token Trading to Get Lift in Q4 2019 if Overstock’s CEO is Correct
Recently, Patrick Byrne, the CEO of Overstock spoke to CoinDesk where he predicted that the volumes on his tZERO security trading platform sill start soaring by the end of the year.
tZERO was officially launched this year. However, trading on the platform has so far been slow, and it is only limited to Wall Street hours. The concerns of the structure of the market mentioned are what resulted in the development of tZERO over the last four years.
The team of Overstock – and that of its venture arm, Medici Ventures – has always been very careful and SEC-conscious in creating tZERO the firm even bought a piece of Wall Street in form or SpeedRoute – a fintech firm, which was bought in 2015. The process has however been slow but steady. Byrne said he wants to continue focusing on developing tZERO without violating these regulations or harming his prospective users.
“FINRA and SEC made it clear that they want to see this work with one broker. We’re into an incremental disruption, not like you millennials that want everything burned down tomorrow.”
They look forward to being a project that can truly disrupt the space, swiveling away from the standard ICO and already classifying itself as a security token offering (STO). Byrne believes the future of tZero is extremely bright.
“People in blockchain are used to building sort of little science experiments. They don’t know how to build something that a million of people are going to use.”
Just yesterday we bought you a story about Patrick giving a keynote address in New York about investing in blockchain technology. Byrne railed against the lack of transparency in everyday trading and how shareholders essentially own little but a receipt on a receipt on an IOU on another IOU. He also talked about his estimation of the blockchain space in the next couple of years. Byrne said that in the next ten years, all kinds of securities can be tokenized, resulting in the potential value of new blockchain securities of about $914 billion.